A Good Is Nonrival If

question 44

Multiple Choice

A good is nonrival if

• A) only the government can produce it.
• B) nobody can be excluded from enjoying the benefits of the good.
• C) when you pay for the good, you are guaranteed to be the sole consumer.
• D) when you consume a unit, you have not decreased the amount left for consumption by other people.
• E) anybody can be excluded from enjoying the benefits of the good.

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Definitions:

Wilcoxon Rank

A nonparametric test that compares two paired groups to determine if their population mean ranks differ significantly.

Alternative Hypothesis

The hypothesis that proposes there is a statistically significant difference between two data sets or a deviation from the null hypothesis.

Spearman Rank

A method that non-parametrically quantifies the rank correlation to determine how well a monotonic function can depict the relationship between two variables.

Precipitation

Any form of water - liquid or solid - falling from the atmosphere to the Earth's surface, including rain, snow, sleet, and hail.